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Exclusive Saga products

Available through the Saga Equity Release Advice Service, provided by HUB Financial Solutions Limited. For more information call the team on 0800 096 7120. Lines are open 9am to 5pm, Monday to Friday (excluding bank holidays).

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Monday to Friday, 9am to 5pm,
excluding Bank Holidays

Exclusive Saga products

For more than 20 years Saga has been developing financial products to help our customers get the most out of their money. And now we’ve developed two exclusive equity release plans, provided by Just, to help you get more out of your property. If equity release is the right solution for you, one of the following could be right for you too…

If you take out one of these products through the Saga Equity Release Advice Service, you won’t have to pay any set-up costs or valuation fees, and you will receive £425 towards your legal fees.

Saga Equity Release Plan

This lifetime mortgage might be recommended to you if you’re aged 55 or over with a UK property worth £70,000 or more. You can choose to borrow the maximum amount of equity available as a one-off lump sum or opt for a smaller amount initially followed by additional amounts at later dates from a pre-agreed limit.

The Saga Equity Release Plan offers additional flexibility by giving you the choice to pay back all or part of your monthly interest. Doing this will reduce the overall cost of the lifetime mortgage loan and you’ll also receive a lower compound interest rate as detailed in your offer documentation.

The level of reduction will depend on the amount of interest you choose to pay – and you can find a case study of what this could mean for you in our free equity release guide. With this plan, you’ll also get the option to take a payment holiday of three months during any 12-month period.

Equity release is a big step as it will reduce the value of your estate and can affect eligibility for means-tested state benefits.

Find out more by speaking to the team at the Saga Equity Release Advice Service by calling 0800 096 7120. Alternatively, you can request a callback from one of the team.

Lines are open Monday to Friday, 9am-5pm (excluding bank holidays).

Saga Regular Drawdown Lifetime Mortgage

Available only if you’re aged 60-80 with a UK property worth at least £150,000, this exclusive lifetime mortgage combines an initial tax-free lump sum payment with ongoing tax-free monthly payouts. The regular drawdown facility makes this plan a good option if you’re looking to supplement your income in retirement.

It is repaid in the same way as a standard lifetime mortgage – from the proceeds of the sale of your property when you die or move permanently into long-term care. As interest is only charged on money as it is released, it accrues at a slower rate than a standard lifetime mortgage so there is likely to be less to repay in the future. There’s also an opportunity each year to change the monthly amount you receive.

With both the above products, the loan is secured against your home and will reduce the value of your estate. Use our calculator to see how much you could release.

Speak to the team at the Saga Equity Release Advice Service by calling 0800 096 7120. Alternatively, you can request a callback from one of the team.

Lines are open Monday to Friday, 9am-5pm (excluding bank holidays).

There’s no fee for the initial consultation with an equity release adviser. However, if you choose to proceed with a recommended product, an advice fee of £750 will be payable on completion. This fee will be waived if you're a Saga customer who has signed up to Possibilities.

Please refer to our Important information to find out more about the service and fees.